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At IMS we understand the need to provide free advice and how do investment loans work approval in principle service for a Spanish Mortgage. This means before you go house hunting you will know what your maximum budget is, have your finances sorted, know what cash deposits you will require and how much the entire purchase process will cost with no nasty surprises or misunderstandings at a later date. We will advise you on all your options for a loan in Spain, we will make a recommendation based on your circumstances and requirements against your meet to each Banks criteria and terms and conditions. We do not just work with one lender.

We will explain the benefits and drawbacks of our option in a clear and concise manner. Loan to values for non residents applying for a mortgage in Spain A mortgage in Spain is granted as a percentage of valuation or purchase price whichever is the lower of the two. Spain, or applicants living outside the EU. Higher loan to values may apply where a property is being bought directly from the Bank. Term you can expect for a mortgage in Spain Maximum terms range from between 20 to 30 years. Age restrictions do apply which can vary from Bank to Bank and range from age 60 years to age 75 years.

In general where feasible from an affordability point of view Spanish Banks prefer loans are set up at no more than 20 years. Types of loans available in Spain Standard repayment loans are the main product in Spain. Interest only has disappeared from the market. This loss of interest only facilities has happened under pressure from the Bank of Spain. Fixed rate loans loans are available. Now offered by nearly all Banks in Spain they have become increasingly more widely available. Fixed rate Mortgages in Spain are generally for the full term and available at competitive rates.